the Commonwealth of Massachusetts is located in New England, one of the oldest parts of the United States Thanks to its colonial heritage the State boasts some great architecture and clearly has a lot of old money. Industry, finance, and academia all thrive here and manage to elevate the status and influence of Massachusetts, making it one of the most prominent areas in the country. If you have ever wondered what the Richest Cities in Massachusetts are, you are at the right place:
Martha’s Vineyard
Martha’s Vineyard actually has several towns on it, but due to its small size and low population, we can count it as one city for this list. Much of the architecture here is colonial and typical to New England, with most of the residents living in houses. Most of the economy stems from tourism, with the local population booming to around 200 000 in Summer, up from around 16 000 years round. Due to the pleasant summer climate and many beaches, this is a preferred destination for wealthy Americans from the East Coast. The Clintons, the Obamas, David Letterman, Larry David, and many other celebrities are regulars here during the summer. As you can imagine, there are loads of wealthy people that live in Martha’s Vineyard and the influx of big spenders in the summer manages to bring in a lot of wealth to the local residents.
Barnstable
Cape Cod is just north of Martha’s Vineyard and Barnstable is the largest town on the cape. Again, there isn’t too much commerce going on here, but the local population is wealthy, tourists visit and Boston is only 1.5 hours away. Some of the large local employers are Cape Cod Community College, Cape Cod Gateway Airport, and multiple retail stores that are visited by people from Cape Cod. Notable, the Kennedy family comes from here. Tourism is one of the largest industries in the Cape, similar to Martha’s Vineyard.
Boston
Boston is the capital and largest city of Massachusetts, as well as the most populous city in New England. Boston is a thriving scientific center with Harvard, MIT, and Boston University being located here. This conglomeration of amazing colleges helps bring in many bright students and staff to the city, as well as to provide a large pool of educated people for local companies. There are more than 350,000 college students in Boston, which bring billions to the city. There are many tech start-ups based out of Boston, largely thanks to MIT. Tourism is a major source of income in Boston as well, with tens of millions of visitors arriving to the city annualy.
